Associated Press
Shares of Freshpet Inc., INC Research Holdings Inc. and Triumph Bancorp Inc. all soared in their first day of trading Friday.
Freshpet, based in Seacaucus, New Jersey, saw the biggest gains of the initial public offerings of the day. The fresh pet food company priced its offering of 10.4 million shares at $15 each. And by midday its shares were up 32 percent to $19.75.
Its stock is trading on the Nasdaq under the ticker “FRPT”. The company offered underwriters the option to buy up to nearly 1.6 million shares.
Clinical research company INC Research also fared well. The Raleigh, North Carolina, company priced its offering of 8.1 million shares at $18.50 and its stock price had risen 9.5 percent to $20.26 by midday. Its shares are trading under the symbol “INCR” on the Nasdaq.
Triumph Bancorp priced its offering of 6.7 million shares at $12 per share. The bank holding company’s stock rose more than 5 percent to $12.66 by midday. The Dallas-based company offered underwriters the option to buy another 1 million shares. The stock is trading on the Nasdaq under the symbol “TBK”.
According to research firm Renaissance Capital, there have been 243 IPOs priced so far this year, up 20 percent from last year. Â